Some cities are recovering better from the recession than others. Take a look at this infographic to see which cities are recovering and which are still struggling with a declining gross product, declining employment, and faling home prices.
What separates a city on the rise from one that continues to fall? Where does your hometown fit in the mix?
That's so true. However, millions of young people and immigrants pouring into those mega cities for better opportunities. Will they regret it? Hard to say. Most of them will stay in those mega cities once they finally settle down for something.
The impact of new Energy fields helps, but there are bigger factors. Austin, for example, is #1 on the list and the Austin economy is more about high-tech and innovation.
On the cultural topic, I was part of a corporate relocation from NYC area to the fly-over zone. At first, we all feared the loss of NYC culture would be too much to bear.
However, none of us were really participating that heavily - maybe a couple of Broadway shows a year or a day at the museums each season. The savings on housing costs more than makes up for this - even enough to cover a few round-trip flights back to NYC, if that's how you want to spend your money.
Wow, at a glance it sure looks like Texas is the place to be! Wonder if people are fleeing there for a cheaper cost of living as a result of having to start over after the Recession.
On the other side of the coin, it looks like a LOT of California exurbs are on the disabled list after being WAY overbuilt in the years before the crash. It's probably simplistic but I'll bet a glut of unsold or foreclosed housing stock correlates pretty well with the cities lagging in the recovery.
@Drivewaygirl, thats a great point, I know when I lived in Boston I was working mostly to pay the rent and maybe put a little food in my belly, but I was working for a startup so its not like I had much time to do anything else anyway.
Its so true, when I lived in Boston, life was always on the move and it was so expensive, The other upside to living in the middle of the country is that I know have more money to invest ;-)
You know, it's a big country, with plenty of places to live and work. Why most of us insist on settling in over congested areas is beyond me. We say we want to live in one city or another for the opportunities and culture. But say you live in NYC or LA. Do you really have the time or money to enjoy much of anything after killing yourself at work all day just to pay the rent/mortgage?
We had a great quality of life in both Pittsburgh and (suburban) Detroit. Life was easier and there was far more time to enjoy it than life in, say, NYC, where I am now.
It's so true Noreen. I grew up in Rhode Island, and even though that states economy is shot, cost of living is still high because it's on the coast. I always thought I would miss the ocean if moved away, but it's not even a factor for me.
The blogs and comments posted on Investor Uprising do not reflect the views of Investor Uprising, PRNewswire, or its sponsors. Investor Uprising, PRNewswire, and its sponsors do not assume responsibility for any comments, claims, or opinions made by authors and bloggers. They are no substitute for your own research and should not be relied upon for trading or any other purpose.
To save this item to your list of favorite Investor Uprising content so you can find it later in your Profile page, click the "Save It" button next to the item.
If you found this interesting or useful, please use the links to the services below to share it with other readers. You will need a free account with each service to share an item via that service.
Tweet This